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Mercedes team principal Toto Wolff admitted Lewis Hamilton's decision to join Ferrari in 2025 was a "surprise" but said it could provide the opportunity to "do something bold".
Hamilton, 39, only signed a new two-year deal with Mercedes last August.
He told Wolff of his decision to leave after 11 years over a planned breakfast at the Austrian's home on Wednesday.
Wolff said he did not "hold a grudge" against the seven-time world champion and did not attempt to change his mind.
"He felt he needed change and I can understand that," Wolff said on Friday.
"We have had tremendous success. We shared the opinion when we decided to sign a short-term contract that there may be opportunities for him and for us.
"Maybe one consideration was the opportunity to sign a longer-term contract with Ferrari and give it a really big go at the end of his career.
"We have had a sensational journey together that will go down in the history books. We want to finish on a high in terms of his [Mercedes] career, but we will build another phase of success - and we will look back on this very good time with Lewis."
Wolff has overseen six of Hamilton's world title triumphs since their relationship at Mercedes began in 2013, paving the way for a period of unprecedented team success that delivered eight consecutive constructors' titles from 2014 to 2021.
The 52-year-old described the partnership between Mercedes and Hamilton as "the most successful the sport has seen" when the team confirmed the driver's departure on Thursday.
Although Wolff said he had heard rumours regarding Hamilton's future earlier in the week, he wanted to wait until he had the chance to hear from him in person.
"We got together for coffee at my place in Oxford. He said to me he had decided to race for Ferrari in 2025 and that was basically it. We had a good hour of conversation," Wolff said.
"Formula 1 has made me resilient to surprises. [But] it was a surprise. Once he said 'this is what I'm trying to do', that was the fact. I didn't try to convince him otherwise.
"It means that our professional journey comes to an end, but it doesn't mean our personal relationship ends. I have found a friend. We have built a relationship over the past 10 years.
"He faced a very difficult situation. Maybe for the first time in 10 years without being able to brainstorm with me," Wolff joked.
"I will always respect the difficult situation he faced. In the future we can discuss whether this could have been done in a different way or not, but I will hold no grudge."
Hamilton and Mercedes' dominant partnership has faltered over recent years in the face of competition from Max Verstappen and Red Bull.
The Briton has not won a race since the Saudi Arabian Grand Prix in 2021, which preceded that season's controversial title-decider in Abu Dhabi where the race director's failure to follow the rules correctly, and Hamilton missed out on a record eighth world title.
Hamilton placed sixth in 2022 and third last season - 341 points behind champion Verstappen, who will aim to win a fourth consecutive drivers' title this year.
"He needed a new challenge - he was looking for a different environment and it was maybe a last possibility to do something else," Wolff said.
"We knew by signing a short-term contract it could be of benefit to both sides. He is taking the option to exit. We totally respect that you can change your mind.
"Switching to Ferrari, maybe rolling the dice a bit, I can follow that decision."
It was only in August, after signing his new deal, that Hamilton said he and Mercedes had "unfinished business" in Formula 1.
But it is in pursuit of an eighth title, which he believes should already be in his possession, that Hamilton has made his shock decision. Having had time to reflect, it is one Wolff said was "perfectly understandable".
"When we signed the contract with Lewis, we opted for short-term, so the events are not a surprise, but maybe the timing [is]," Wolff said.
"The friend side of me says he should have an eighth because that was taken away from him. If he wins that in 2024, that would be a great thing. But going forward, I would rather we win."
More to follow.

2 years ago
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